A new algorithm for power system stability calculations is developed which considers the nonlinear state equations of 8 state variables for each generator dynamics, expollential load models in respect to bus voltages for nonlinear loads, network equations expressed in terms of bus-injected current sources, various kinds of generator and transmission line outages, abrupt changes in loads, and operations of various kinds of portective relaying systems such as distance relaying, reclosing load shedding by under-frequency relays. In the algorithm are included efficient and reliable schemes for solving network equations by means of the Newton-Raphson iterative method and the Optimally-Ordered Triangular Factorization Technique, and simple procedures for determining fault-point negative and zero sequence impedances for unbalanced line faults. An application of the Optimally-Ordered Triangular Factorization Techniques results in remarkable savings in computing time and memory requirements.